1607 Alice Ave · Greensboro, NC 27401

$99,999

2 bd · 1.0 ba · 950 sqft · SingleFamily public records · 11 Days on market

Built 1961 8,276 sqft lot Est $179k · 44% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

We have multi offers and will call for all offers by Sunday at 5PM. With the commissioner being an attorney, I would anticipate Monday being when we hear back.  Great Investment Opportunity! 3 bed 1 bath home with nice back lot, and cute curb appeal. With the right renovations, this one could be profitable. Sold subject to 10 day upset period and final court approval, sold as-is, utilities may or may not be on and will be responsibility of buyer or buyers agent, personal property may remain and to be removed at buyers expense. Cash offers only due to condition.

Key facts

• 8,276 sq ft lot
• Built 1961
• Listed 11 days

Property features AI

Finance

• Other: Building total area 961; Lot approximately 0.19 acres
• HOA & community: No homeowners association; Subdivision: Lincoln Heights

Exterior

• Parking: Driveway
• Utilities: Public sewer; Public water; Water heater: unknown
• Home design: Residential stick/site-built house; One story; Built in 1961; Existing structure
• Construction: Brick construction; See remarks for additional construction details; Crawl space foundation
• Exterior features: No fenced yard; Public-maintained road access; Public water source

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Bedrooms located on the main level
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit(s) for cooling; Heating details listed in remarks
• Interior features: Primary bedroom located on the main level; Carpet, vinyl and wood flooring
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 12.2% vs local median 3.8% in Greensboro — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#12 in NC, #1,335 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.8%/yr); 125 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).
• This rent runs 35% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,999

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.15%
• DSCR: 1.94
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $178,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2018 Barksdale Dr	0.22mi	3/1.0 (+1)	940 (-1%)	11mo	$186,000	$198	74
1711 Eastwood Ave	0.21mi	3/1.0 (+1)	918 (-3%)	11mo	$180,000	$196	70
1408 Willow Rd	0.40mi	3/2.0 (+1)	932 (-2%)	2mo	$200,000	$215	68
2505 Pear St	0.35mi	3/1.5 (+1)	992 (+4%)	8mo	$174,000	$175	63
922 Llano Pl	0.48mi	3/1.0 (+1)	903 (-5%)	3mo	$170,000	$188	62
1603 Willow Rd	0.32mi	3/1.0 (+1)	981 (+3%)	18mo	$120,000	$122	59
2107 Tuscaloosa St	0.39mi	2/1.0	864 (-9%)	12mo	$165,000	$191	57
1611 Willow Rd	0.33mi	3/5.5 (+1)	950 (0%)	10mo	$138,000	$145	57
1402 Ardmore Dr	0.28mi	3/2.0 (+1)	1,087 (+14%)	2mo	$225,000	$207	52
5 Ross Ct	0.63mi	3/1.0 (+1)	975 (+3%)	14mo	$164,000	$168	49
1616 Dunbar St	0.43mi	3/1.0 (+1)	1,089 (+15%)	3mo	$188,000	$173	48
1409 Lincoln St	0.56mi	3/1.0 (+1)	1,080 (+14%)	16mo	$177,000	$164	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.48×
• Total profit: $13,507
• Equity at exit: $14,910

10-year hold

• IRR: 20.3%
• Equity multiple: 2.62×
• Total profit: $45,348
• Equity at exit: $8,646

Cash invested: $28,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 27401

• Home prices YoY: -28.9%
• Rents YoY: 1.8%
• Active inventory: 125
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,392 high
• Mortgage (P&I): −$524
• Tax from tax record: −$40 /mo · $483/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $493

Break-even live

Break-even rent $767

Max offer price $99,999

Occupancy floor 60%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 Eastwood Ave Greensboro, NC	3.0	2.0	950	$1,750	$1.84	23d	1	0.15mi
1404 Ardmore Dr Greensboro, NC	3.0	2.0	1094	$1,625	$1.49	14d	1	0.23mi
2117 Tuscaloosa St Greensboro, NC	3.0	1.0	1000	$1,600	$1.60	23d	1	0.34mi
1112 Stephens St Greensboro, NC	2.0	1.0	744	$1,250	$1.68	19d	1	0.84mi
600 Banner Ave Unit 614-B Greensboro, NC	2.0	1.5	850	$850	$1.00	23d	1	0.89mi
522 Banner Ave Greensboro, NC	3.0	2.0	822	$1,600	$1.95	23d	1	0.93mi
2001 Spencer St Greensboro, NC	2.0	1.0	720	$1,295	$1.80	23d	1	1.00mi
2007 S Benbow Rd Greensboro, NC	3.0	1.0	960	$1,100	$1.15	23d	1	1.07mi
904 Stephens St Greensboro, NC	3.0	1.0	1052	$1,490	$1.42	14d	1	1.14mi
307 Avalon Rd Greensboro, NC	1.0–2.0	1.0	650	$895	$1.38	23d	3	1.14mi
503 S O Henry Blvd Greensboro, NC	2.0	1.0	860	$850	$0.99	23d	1	1.16mi
403 S O Henry Blvd Unit Alexander Homes Greensboro, NC	2.0	1.0	860	$875	$1.02	23d	1	1.18mi
909 Tuscaloosa St Greensboro, NC	2.0	1.0	840	$1,195	$1.42	23d	1	1.22mi
1001 E Bragg St Apt B Greensboro, NC	2.0	1.0	700	$925	$1.32	14d	1	1.37mi
2300 Willow Rd Greensboro, NC	3.0	1.0	999	$1,400	$1.40	23d	1	1.43mi
710 Reid St Greensboro, NC	3.0	1.0	925	$1,395	$1.51	14d	1	1.44mi
702 Ross Ave Greensboro, NC	2.0	1.0	672	$1,200	$1.79	23d	1	1.46mi
112 S Raleigh St Greensboro, NC	3.0	1.0	1000	$1,200	$1.20	23d	1	1.47mi
110 S Raleigh St Greensboro, NC	3.0	1.0	1000	$1,200	$1.20	23d	1	1.48mi

Listing history 3 events

1. 2026-04-19
   status Pending
2. 2026-04-13
   historical Due Diligence Period
3. 2026-04-07
   listed $99,999 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $483 · $40/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$337/yr (+$28/mo · 69.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,706
• − Mortgage interest: −$5,601
• − Property taxes: −$483
• − Insurance: −$500
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$2,909
• Taxable income: $4,540
• Est. tax owed @ 24.0%: −$1,089
• After-tax cash flow: $4,832/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Guilford County Schools
• NCES district ID: 3701920
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $46,315
• Composite: 35.78/100
• National rank: #4842
• State rank: #99 of 178 in NC

Livability — Greensboro

• Score: 81/100
• State rank: #12
• US rank: #1335

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greensboro, NC
• County: Guilford County · 487,190 people
• City population: 329,421
• Metro: Greensboro-High Point, NC
• Population (ZIP): 21,920
• Household income: $47,972
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 1138.0

Population outlook (Guilford County) Hauer SSP2

• Today (2025): 584,596 people
• By 2030: 616,851 · +5.5%
• By 2040: 678,451 · +16.1%
• By 2050: 734,788 · +25.7%
• By 2075: 862,985 · +47.6%
• By 2100: 948,704 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 6% Arabic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Guilford

• 2024 margin: Strong D (+21.8) · D 60.2% · R 38.4% · Other 1.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 18.4pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+23.1 2016: D+20.0 2012: D+16.5 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.87%
• Current HPI: 240.5377
• Rent YoY: ▲ 1.78%
• Metro: Greensboro-High Point, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

3 events — show timeline

• 2026-04-19 Pending — Triad MLS
• 2026-04-13 Contingent — Triad MLS
• 2026-04-07 Listed $99,999 Triad MLS

Property tax history

+1.6%/yr

Latest (2025): $483 · -1.0% YoY. Source: county tax records.